Market Trends of Breast Biopsy Devices Industry
The Breast Biopsy Needles Under Product Segment is Expected to Hold a Significant Share in the Market
The breast biopsy needle occupies a significant market share due to its application in different kinds of procedures like fine needle aspiration biopsy, vacuum-assisted biopsy, and core needle biopsy. These procedures, where needles are used to collect the breast tissue sample rather than the surgical procedure, make breast cancer treatment more affordable. According to the NIH Report 2021, the average mortality rates among breast cancer women were significantly greater in South Asia and Sub-Saharan Africa. Countries in South Asia are spending from 0.05% to 0.08% of GDP to fight breast cancer every year. This economic burden can be reduced by using cost-effective diagnostic procedures where needles are used. For instance, according to an NIH report study in 2021, the most common diagnostic practice for breast biopsy in pathology centers of Saharan African countries is fine needle aspiration and core needle aspiration.
Therefore, due to the higher utilization of needles in different procedures and cost-effectiveness, new product launches led to new product launches. For instance, in February 2022, TeesuVac ApS, a Denmark company, launched a new needle biopsy device known as TeesuVac Breast Biopsy Device Mark 1, which is indicated to obtain percutaneous core biopsy specimens from soft tissue and tumors of the breast. Hence, new product launches are expected to boost the breast biopsy needles segment, which is estimated to witness significant growth over the forecast period.
North America is Expected to Dominate the Breast Biopsy Devices Market
North America is expected to dominate the market owing to factors such as high awareness and prevalence rate of breast cancers among people in the region, new technological advancements, favorable reimbursement scenarios by the government, and new breast density notification laws in the United States. According to the American Society of Cancer (ASC) Report 2023, breast cancer is the most common cancer in women in the United States, except for skin cancers. Breast cancer accounts for 30% of all female cancers affected each year. To reduce the prevalence rate and mortality rate of breast cancer, the government has introduced certain laws to support patients with diagnosis and treatment costs. For instance, the Breast and Cervical Cancer Mortality Prevention Act of the United States provides economic support to low-income families for the treatment of breast cancer. Such awareness and reimbursement initiatives by the government in the region will accelerate the breast biopsy device market in the region.
Furthermore, the new technological advancements for the diagnosis of breast cancer and FDA approvals will accelerate the market in the region. For instance, in August 2022, the FDA approved the Guardant360 CDx (Guardant Health, Inc.), which is a liquid biopsy test device used to identify advanced or metastatic breast cancer patients with ESR1 mutations. In addition, in April 2022, the FDA approved HydroMARK Breast Biopsy Site Marker (Devicor Medical Products, Inc.), which is used to mark tissue during percutaneous breast biopsy procedures.
Therefore, owing to the high awareness and prevalence rate of breast cancer, new technological advancements, and reimbursement scenarios are expected to drive the market in the North American region.
